Deckers Outdoor Corporation has signed an agreement to acquire Sanuk, an American brand of beach sandals and other lifestyle shoes whose sales are expected to double this year from $43 million in 2010, generating Ebitda of $15 million. Deckers will pay $120 million in cash, plus an earn-out provision of up to $30 million, for Sanuk and related assets. The management feels that the brand has potential to grow like Ugg, particularly in the action sports segment where it had its origins in 1997 (more in the next Shoe Intelligence).